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Exam RePA_Sales_S Questions | RePA_Sales_S Practice Test Engine

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Pennsylvania Real Estate Commission PA Salesperson State Exam Sample Questions (Q48-Q53):

NEW QUESTION # 48
A salesperson has just obtained the seller's signature on an offer to purchase. When MUST the buyer receive a copy?

A. Within 24 hours of the offer's acceptance
B. At the closing
C. In a reasonably practicable period of time
D. Within 1 business day of the offer's acceptance

Answer: D

Explanation:
Under49 Pa. Code § 35.331 (Written Agreements Generally),all parties must receive a copy of a signed offer within 1 business day of acceptance.
* This ensures that buyers and sellers have full documentation of the transaction.
* Delaying delivery of signed contracts can lead to disputes and potential violations of real estate regulations.
Why the other answers are incorrect:
* Option A (24 Hours):While fast delivery is preferred, thelaw specifically states "1 business day."
* Option C (At Closing):Buyers must receive a copywell before closing.
* Option D (Reasonably Practicable Time):This istoo vagueand does not meet thespecific 1-business- day requirement.

NEW QUESTION # 49
Which of the following conditions MUST be met before a licensee participates in the sale of real property in which the licensee has an ownership interest?

A. The listing agreement must identify the licensee's name and status as a licensee.
B. The Pennsylvania Real Estate Commission must be notified of the transaction.
C. The licensee must provide written disclosure of the ownership interest to all parties.
D. The percentage of the licensee's ownership interest must be stated on the sales contract.

Answer: C

Explanation:
Under49 Pa. Code § 35.283 (Disclosure of Interest),a real estate licensee must disclose in writing if they have a direct or indirect ownership interest in a property they are selling or purchasing.
* This disclosure ensures transparency and prevents conflicts of interest.
* Failure to disclose ownership interest could be considered fraudulent and result in disciplinary action by the Pennsylvania Real Estate Commission.
Why the other answers are incorrect:
* Option A (Commission Notification Required):TheCommission does not need to be notifiedunless a violation occurs.
* Option B (Listing Agreement Disclosure):Disclosure isnot required in the listing agreementbut must be made to all parties.
* Option D (Percentage of Ownership on Contract):The specificpercentage of ownership is not required to be on the contract; general disclosure is sufficient.

NEW QUESTION # 50
An exclusive listing MUST be in writing and it MUST:

A. contain a provision allowing the owner to cancel all exclusive features within 24 hours' notice
B. specify the duration of the listing
C. contain provisions regarding acceptable financing arrangements
D. be signed by the cooperating broker

Answer: B

Explanation:
Allexclusive listing agreements in Pennsylvania MUST specify their duration in writing.
* 49 Pa. Code § 35.332 (Exclusive Listing Agreements)states thatall exclusive listings must have a definite start and end date.
* Listings without an expiration date are considered illegaland unenforceable in Pennsylvania.
Why the other answers are incorrect:
* Option A (Cancellation in 24 Hours):There is no legal requirement for a 24-hour cancellation clause.
* Option B (Financing Arrangements):Financing provisionsare not a required part of a listing agreement.
* Option C (Signed by Cooperating Broker):A cooperating broker's signatureis not required. Only the listing broker and seller need to sign the agreement.

NEW QUESTION # 51
An owner sells a house through a salesperson who works as an independent contractor for a broker. Before the closing, the owner fires the broker. However, the owner agrees to pay the salesperson a $1,000 fee for services. Which of the following is TRUE?

A. The salesperson may only accept the $1,000 with the broker's consent.
B. The salesperson may legally accept the $1,000.
C. The owner can cancel any part of the sales contract at any time.
D. The salesperson cannot legally accept the $1,000.

Answer: D

Explanation:
According to49 Pa. Code § 35.283(Compensation and Commission), asalesperson may not accept compensation from anyone other than their employing broker.
* A salesperson cannot accept direct payments from an owner or buyer (Option A - Correct).
* The owner cannot cancel the sales contract unilaterally (Option B - Incorrect).
* The salesperson may only be compensated through the broker, even if the owner agrees to direct payment (Option C & D - Incorrect).

NEW QUESTION # 52
A listing agreement must contain all of the following EXCEPT:

A. The duration of the listing.
B. A description of the services to be provided.
C. The broker's license number.
D. The broker's compensation.

Answer: C

Explanation:
Under49 Pa. Code § 35.332 (Exclusive Listing Agreements), all listing agreements must specify the services provided, the duration of the agreement, and the compensation of the broker. However, there is no requirement to include the broker's license number.
* A listing agreement must clearly state the terms under which the broker will perform services and how they will be compensated.
* The duration of the agreement must also be specified to prevent misunderstandings.
Why the other answers are incorrect:
* Option A (Description of Services):This is a required component of the listing agreement.
* Option B (Duration of Listing):A listing agreement must have a start and end date.
* Option D (Broker's Compensation):Compensation must be clearly stated in the listing agreement.

NEW QUESTION # 53
......

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